(CercleFinance.com) – Memscap delivered annual results last night in line with expectations and accompanied by optimistic outlooks, a publication which was rather well received on the stock market this Thursday.
The manufacturer of high-precision pressure sensors for the aerospace and medical markets announced that its turnover stood at 14.1 million euros last year, compared to 9.3 million in 2022, representing growth of 50.7% over the financial year.
Its operating profit from continuing activities reached 2.5 million euros, – or 17.6% of turnover – compared to only 236,000 euros in 2022.
The net profit after tax from continuing activities thus amounts to 2.1 million euros for the financial year, to be compared with a profit of 151,000 euros in 2022.
Regarding its prospects, the group indicates that its performance in 2023 confirms the ambitions of its ‘4C’ strategic plan for 2026.
‘While the stock experienced a strong rerating in 2023 following its recovery (+185% over 12 months), we believe that the value should remain well oriented while it has solid fundamentals, “still very buoyant markets and excellent visibility on its activity thanks to its long-term contracts”, react Euroland analysts.
The stockbroking company raises its price target to 10.5 euros, compared to 8.1 euros so far, with a recommendation which remains at purchase.
Shortly before 12:00 p.m., the stock advanced almost 2%.
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